rss icon Subscribe
desktop mobile

NYK Line Wins First Sustainability Loan in Japan

Pic: NYK Line

Shailaja A. Lakshmi

The Japanese shipping giant NYK Line has secured a syndicated sustainability-linked loan from MUFG Bank Ltd. This is Japan's first advanced loan that allows for conditions such as the loan's interest rate to be adjusted according to the borrower's CSR performance.

This loan encourages sustainable economic activities and growth by linking loan pricing to company performance, which is determined by the score provided by CDP (Carbon Disclosure Project) annually.

As long as high CDP ratings are maintained, the company's CDP score will not cause the loan's interest rate to change prior to the repayment deadline.

In accordance with the new medium-term management plan "Staying Ahead 2022 with Digitalization and Green" announced in 2018, NYK integrated ESG principles into management strategies to drive the sustainable development of society and enrichment of the company's corporate value.

In fact, NYK achieved a place on the Climate Change A List in 2018. About 7,000 companies publicly disclose environmental information through CDP yearly, and 139 companies are on its A List, including 20 Japanese companies and NYK.

The purpose of this loan is for NYK to promote its ESG management and motivate the company to maintain a high CDP score by responding to climate change through business activities.

This loan has obtained third-party opinions from Japan Credit Rating Agency Ltd. (JCR) for the loan's rationality and compliance with the Sustainability Linked Loan Principles published by the Loan Market Association (LMA).

Nov 29, 2019

 

People & Company News

Van Aalst Group Launches Nortek Services AS

From L to R: Kjetil Vatne, Tor Martin Buene, Sindre Tronstad and Trygve Altenborg.

To provide preventive and predictive maintenance services, combined with workshop services for

Nautical Institute's New President Outlines Top Goals

Jillian Carson-Jackson (Photo: The Nautical Institute)

The newly elected President of The Nautical Institute, Jillian Carson-Jackson has vowed to help

Fincantieri Acquires Comms Equipment Supplier

(File photo: Fincantieri)

Fincantieri said it has acquired a majority share in communications equipment supplier Support

Finance

SAAM Places $42 Million in Bonds

(Photo: SAAM)

SAAM, operator of port, towage and logistics services in the Americas, placed a total of UF 1.

Carnival's Credit Rating Cut to Junk Status by S&P

File photo: Carnival Corp

Ratings agency Standard & Poor’s on Tuesday downgraded bonds of Carnival Corp to junk status

Carnival Posts $4.4 Billion Quarterly Loss

(File photo: Carnival Corp)

Carnival Corp reported a quarterly net loss of $4.4 billion on Thursday, as the cruise operator

Maritime Apps